Equifax Paying $15 Million For Consumer Dispute Failures
For the “failure to conduct proper investigations of consumer disputes,” the Consumer Financial Protection Bureau (CFPB) last Friday announced enforcement actions taken against Equifax, requiring the nationwide consumer reporting agency to pay a $15 million civil money penalty and bring its business practices into compliance with federal law.
Equifax fined $15 million over its handling of consumer disputes
The Consumer Financial Protection Bureau has imposed a $15 million fine on Equifax, a consumer reporting agency, for failing to adequately investigate cons
CFPB fines Equifax $15 million for errors on credit reports
The Consumer Financial Protection Bureau fined Equifax $15 million for credit reporting errors. The CFPB alleged the credit bureau failed to properly investigate consumer disputes.
CFPB Orders Credit Reporting Agency to Pay $15 Million for Mishandling Consumer Disputes
On January 17, 2025, the CFPB issued a consent order against a large consumer reporting agency for failing to properly investigate consumer disputes concerning inaccurate information on consumers’ credit reports.
Equifax ordered to pay $15 million for improper investigations regarding credit card errors
The Consumer Financial Protection Bureau (CFPB) this week ordered Equifax to pay $15 million for failing to conduct proper investigations regarding credit card errors, according to a press release. Equifax,
Equifax Fined $15M For Inaccurate Credit Scores, Mishandling Disputes: CFPB
One of the nation’s largest credit reporting agencies has been fined $15 million for issuing inaccurate credit scores and failing to properly investigate consumer disputes, officials said. Equifax will pay the fine into the Consumer Financial Protection Bureau's victims relief fund,
The laws behind credit repair
While CROA focuses on regulating credit repair companies, other federal laws are focused on protecting consumers. The Fair ...
Industry groups sue to stop Biden from banning medical debt on credit reports
Opposition is quickly forming against the Biden administration’s rule to ban medical debt from appearing on consumers’ credit ...
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CFPB sued for exceeding its authority on medical debt rule
Two trade groups filed a lawsuit against the Consumer Financial Protection Bureau claiming it exceeded its authority and ...
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CFPB Publishes Supervisory Highlights Focused on Deposits, Small-Dollar Lending, BNPL, and Paycheck Advance Products
During the week of January 6, the CFPB released a “second” Winter 2024 Supervisory Highlights, focused on the agency’s most recent findings ...
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CFPB targets Experian via lawsuit over credit report errors
The Consumer Financial Protection Bureau (CFPB) is suing Experian, claiming the nationwide consumer reporting agency is ...
New Rule Erases Medical Debt From Credit Reports: What It Means For You
If you have any medical debt, you’ll be glad to know it will no longer appear on your credit report. On Tuesday, the Consumer Financial Protection Bureau (CFPB) announced the finalization of a rule ...
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CFPB Alleges Credit Reporting Agency Conducted Sham Investigations of Errors
On January 7, 2025, the CFPB filed a lawsuit against a nationwide consumer reporting agency for violations of the Fair Credit Reporting Act. The lawsuit claims the company’s investigation of ...
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Consumers with medical debt stuck in the middle as ban from credit report faces lawsuit
With the new lawsuits, consumers with medical debt will be stuck in the middle but experts say there are options.
Industry Groups Sue Over Biden Ban on Medical Debt From Credit Reports
(Reuters) - Two groups representing the credit reporting and credit union industries have filed a lawsuit challenging a new ...
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What do the 3 credit bureaus do?
The three major credit bureaus are Equifax, Experian and TransUnion. The credit bureaus manage records on your accounts, ...